The rupee had earlier recorded its lowest closing level of 83.40 on December 13, 2023. According to Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, the US dollar strengthened on weak euro and pound.

The rupee was at 82.7750 against the U.S. dollar as of 10:25 a.m. IST, up 0.05% compared with its close of 82.8225 in the previous session.

ICICI Direct, Euro gained by 0.18% yesterday amid weak dollar and optimistic global market sentiments.

Forex traders said strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted a sharp uptick.

ICICI Direct, Euro slipped by 0.60% yesterday due to strong dollar and risk aversion in the global markets.

ICICI Direct, Rupee ended little changed yesterday ahead of Inflation data from India and US. Further, rupee gave up most of its early gains amid uptick in dollar, surge in crude oil prices and risk aversion in the domestic market.

Finance Minister Nirmala Sitharaman on Thursday hiked capital expenditure by 11 per cent for the next fiscal to sustain a world-beating economic growth rate while trimming the deficit in a reform-oriented interim budget.

A reassessment of rate cut expectations in the United States supported the dollar this week and led to a rise in U.S. bond yields, aided by strength in U.S. economic data.

The cohort are essentially making a bet that the Reserve Bank of India will continue to keep a tight grip on the currency as it seeks to contain volatility and slow its decline past a record low

ICICI Direct, Rupee appreciated yesterday amid weakness in dollar. Further, FII inflows and rise in risk appetite in the domestic markets supported rupee.